H.C. Wainwright 23rd Annual Global Investment Conference
Robert Barrow, Chief Executive Officer of MindMed, presents at the virtual H.C. Wainwright 23rd Annual Global Investment Conference.
Awakn Life Sciences Reports Second Quarter 2021 Financial Results and Business Highlights
Awakn Life Sciences Reports Second Quarter 2021 Financial Results and Business Highlights
TORONTO, CANADA, 15 SEPTEMBER 2021 – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (‘Awakn’), a biotechnology company with clinical operations developing and delivering psychedelic medicines to better treat Addiction, today is reporting its financial results and business highlights for the three and six months ended July 31, 2021. All results are reported under International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.
We remain steadfast in our mission to fully integrate effective psychedelic-based treatments into mainstream healthcare to better treat
Addiction.”
Business and Operational Updates
- Filed provisional patent applications in the U.S. for two next-generation novel MDMA- derived new chemical entities, AWKN001 and AWKN002, further strengthening the Company’s intellectual property portfolio and pipeline for the treatment of a broad range of addictions, including, but not limited to alcohol, opioid and behavioural, such as gambling.
- Initiated a new chemical entity (NCE) drug discovery program to strengthen Awakn’s pipeline for the treatment of a broad range of substance and behavioral addictions. The program is led by Prof David Nutt. The first project in the program is a two stage ten month Hit to Lead (HtL) drug discovery program, with results from the first stage due in early Q4 2021.
- Initiated a Ketamine research program designed to demonstrate the effectiveness of ketamine-assisted psychotherapy against multiple addictions, initially focusing on treating AUD and gambling addiction.
- Signed a 10-year lease to open Awakn Clinics London, a psychedelic-focused therapy center to treat addition and other mental health conditions. Awakn Clinics London will be approximately 4,419 square-feet and will host eight treatment rooms.
Anthony Tennyson, Chief Executive Officer of Awakn Life Sciences, commented, “Our team has achieved many accomplishments in a short period of time since going public in June of 2021. We have continued to surround ourselves with experts in the psychedelic and addiction industries such as Prof. David Nutt, Prof. Celia Morgan and Prof. Barbara Mason. We have also made significant strides in the development and delivery of psychedelic therapeutics to treat Addiction
and continued to progress the opening of our first clinics.
• Established preclinical and clinical expert advisory boards by separating its current advisory board, while adding Prof. Stephen Husbands (University of Bath), Prof. Harriet de Wit (University of Chicago) and Prof Kevin Fone (University of Nottingham). Each of the two boards to be chaired by Professor David Nutt, Chief Research Officer.
Key Corporate Highlights and Developments:
- Announced Depository Trust & Clearing Corporation (“DTC”) eligibility, allowing Awakn’s shares to be electronically cleared and settled, which will streamline the process of trading, enhance liquidity, and provide direct access to investors in the U.S. OTC capital markets.
- Commenced trading on the OTC Market under the Symbol ‘AWKNF’. This additional capital markets exposure offers us greater visibility within the investment community in the U.S., which should enhance our liquidity and increase our access to institutional and retail investors.
- Commenced trading on the Neo Exchange under the symbol AWKN after completion of reverse takeover transaction and release from escrow of private placement proceeds. Key Financial Highlights: About Awakn Life Sciences Corp.
Awakn Life Sciences is a biotechnology company with clinical operations, researching, developing, and delivering psychedelic medicine to better treat Addiction. Awakn’s team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat Addiction. Awakn will also deliver evidence backed psychedelic therapies for Addiction in clinics in the UK and Europe and through licencing partnerships globally. www.awaknlifesciences.com | Twitter | LinkedIn | Facebook Notice Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain
• Completed a $8.3 million financing at $2.50 per share in conjunction with the listing on
the Neo Exchange.
• Closed the quarter well capitalized with approximately $8.8 million of cash as on hand as
of July 31, 2021.
actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.
Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward- looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Phone: +1 (212) 896-1254
Awakn@KCSA.com
Investor Enquiries:
KCSA Strategic Communications
Valter Pinto / Tim Regan
Media Enquiries:
America and Canada: KCSA Strategic Communications
Anne Donohoe
Adonohoe@KCSA.com
Rest of World: ROAD Communications
Paul Jarman / Anna Ramsey
Awakn@roadcommunications.co.uk
atai Life Sciences Increases Loan in Principal by US$6m to Support IntelGenx’s Graduation to Toronto Stock Exchange After Positive Early Feasibility Study Data
atai Life Sciences Increases Loan in Principal by US$6m to Support IntelGenx’s Graduation to Toronto Stock Exchange After Positive Early Feasibility Study Data
NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — atai Life Sciences (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced it has entered into an amended and restated loan agreement (“Loan Agreement”) with strategic partner IntelGenx Technologies Corp. (“IntelGenx”) to support IntelGenx’s conditionally approved graduation from the TSX Venture Exchange to the Toronto Stock Exchange (“TSX”). Completion of the uplisting and the commencement of trading of IntelGenx’s common shares, 8% convertible debentures with a maturity date of June 30, 2022, and share purchase warrants expiring on February 11, 2023 is subject to the satisfaction by IntelGenx of all of the final conditions of listing.
atai has agreed to increase the principal amount of its outstanding US$2,500,000 loan to IntelGenx by an additional US$6,000,000, with US$3,000,000 to become available to IntelGenx in each of January 2022 and January 2023, subject to customary conditions. The loan is in addition to atai’s previously announced initial equity investment of an approximately 25% interest in IntelGenx. The loan bears interest at a rate of 8% per annum, payable at maturity, and matures in January 2024. The borrower under the secured loan is IntelGenx’s wholly-owned subsidiary, IntelGenx Corp., and the loan is guaranteed by IntelGenx.
As part of the strategic partnership, IntelGenx partnered exclusively with atai to develop formulations of compounds for the prevention or treatment of mental health diseases or disorders, including compounds that have psychedelic, entactogenic and/or oneirophrenic properties (such as DMT and psilocybin, among others). atai agreed to increase the loan principal in part on the basis of early data generated from its ongoing feasibility studies conducted with IntelGenx.
“We are proud to deepen our relationship with atai, while strengthening our positions of leadership and boldly innovating novel psychedelic therapies,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “I’m excited about our companies’ mutual efforts to advance our robust pipelines, while finding synergistic ways to work together to develop better compounds and modes of delivery to benefit patients.”
“This transaction illustrates our confidence in IntelGenx’s film technology and the potential it has in the development of product candidates to treat mental health disorders,” said Florian Brand, CEO of atai. “We look forward to collaborating to transition this innovative film delivery technology into the clinic.”
About atai
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai’s business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai’s mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.
About IntelGenx
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
IntelGenx’s superior film technologies, including VersaFilm®, DisinteQ™, VetaFilm™ and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.
IntelGenx’s highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx’s state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.
Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “anticipate,” “initiate,” “could,” “would,” “project,” “plan,” “potentially,” “preliminary,” “likely,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things,
the uplisting of IntelGenx to the TSX and continued strategic cooperation between atai and IntelGenx. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond our control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including without limitation: we are a clinical-stage biopharmaceutical company and have incurred significant losses since our inception, and we anticipate that we will continue to incur significant losses for the foreseeable future; we will require substantial additional funding to achieve our business goals, and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our product development efforts; our limited operating history may make it difficult to evaluate the success of our business and to assess our future viability; we have never generated revenue and may never be profitable; our product candidates contain controlled substances, the use of which may generate public controversy; clinical and preclinical development is uncertain, and our preclinical programs may experience delays or may never advance to clinical trials; we currently rely on qualified therapists working at third-party clinical trial sites to administer certain of our product candidates in our clinical trials and we expect this to continue upon approval, if any, of our current or future product candidates; if third-party sites fail to recruit and retain a sufficient number of therapists or effectively manage their therapists, our business, financial condition and results of operations would be materially harmed; we cannot give any assurance that any of our product candidates will receive regulatory approval, which is necessary before they can be commercialized; research and development of drugs targeting the central nervous system, or CNS, is particularly difficult, and it can be difficult to predict and understand why a drug has a positive effect on some patients but not others; we face significant competition in an environment of rapid technological and scientific change; third parties may claim that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and may prevent or delay our development and commercialization efforts; a change in our effective place of management may increase our aggregate tax burden; we identified material weaknesses in connection with our internal control over financial reporting; and a pandemic, epidemic, or outbreak of an infectious disease, such as the COVID-19 pandemic, may materially and adversely affect our business, including our preclinical studies, clinical trials, third parties on whom we rely, our supply chain, our ability to raise capital, our ability to conduct regular business and our financial results. Other risk factors include the important factors described in the section titled “Risk Factors” in our final prospectus, filed with the Securities and Exchange Commission (“SEC”) on June 21, 2021 pursuant to Rule 424(b) under the Securities Act, and in our other filings with the SEC, that may cause our actual results, performance or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements.
Any forward-looking statements made herein speak only as of the date of this press release, and you should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, performance, or achievements reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations.
Contact Information
For atai Life Sciences:
Investor Contact:
Greg Weaver
ATAI – Chief Financial Officer
Email: greg.weaver@atai.life
Media Contact:
Anne Donohoe
KCSA Strategic Communications
Phone: +1 (212) 896-1265
Email: atai@KCSA.com
For IntelGenx:
Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
stephen@intelgenx.com
Or
Andre Godin, CPA, CA
President and CFO
IntelGenx Technologies Corp.
(514) 331-7440 ext 203
andre@intelgenx.com
atai Life Sciences Increases Loan in Principal by US$6m to Support IntelGenx’s Graduation to Toronto Stock Exchange After Positive Early Feasibility Study Data
NEW YORK, Sept. 15, 2021 (GLOBE NEWSWIRE) — atai Life Sciences (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced it has entered into an amended and restated loan agreement (“Loan Agreement”) with strategic partner IntelGenx Technologies Corp. (“IntelGenx”) to support IntelGenx’s conditionally approved graduation from the TSX Venture Exchange to the Toronto Stock Exchange (“TSX”). Completion of the uplisting and the commencement of trading of IntelGenx’s common shares, 8% convertible debentures with a maturity date of June 30, 2022, and share purchase warrants expiring on February 11, 2023 is subject to the satisfaction by IntelGenx of all of the final conditions of listing.
atai has agreed to increase the principal amount of its outstanding US$2,500,000 loan to IntelGenx by an additional US$6,000,000, with US$3,000,000 to become available to IntelGenx in each of January 2022 and January 2023, subject to customary conditions. The loan is in addition to atai’s previously announced initial equity investment of an approximately 25% interest in IntelGenx. The loan bears interest at a rate of 8% per annum, payable at maturity, and matures in January 2024. The borrower under the secured loan is IntelGenx’s wholly-owned subsidiary, IntelGenx Corp., and the loan is guaranteed by IntelGenx.
As part of the strategic partnership, IntelGenx partnered exclusively with atai to develop formulations of compounds for the prevention or treatment of mental health diseases or disorders, including compounds that have psychedelic, entactogenic and/or oneirophrenic properties (such as DMT and psilocybin, among others). atai agreed to increase the loan principal in part on the basis of early data generated from its ongoing feasibility studies conducted with IntelGenx.
“We are proud to deepen our relationship with atai, while strengthening our positions of leadership and boldly innovating novel psychedelic therapies,” said Dr. Horst G. Zerbe, CEO of IntelGenx. “I’m excited about our companies’ mutual efforts to advance our robust pipelines, while finding synergistic ways to work together to develop better compounds and modes of delivery to benefit patients.”
“This transaction illustrates our confidence in IntelGenx’s film technology and the potential it has in the development of product candidates to treat mental health disorders,” said Florian Brand, CEO of atai. “We look forward to collaborating to transition this innovative film delivery technology into the clinic.”
About atai
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. atai’s business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders. atai’s mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.
About IntelGenx
IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.
IntelGenx’s superior film technologies, including VersaFilm®, DisinteQ™, VetaFilm™ and transdermal VevaDerm™, allow for next generation pharmaceutical products that address unmet medical needs. IntelGenx’s innovative product pipeline offers significant benefits to patients and physicians for many therapeutic conditions.
IntelGenx’s highly skilled team provides comprehensive pharmaceuticals services to pharmaceutical partners, including R&D, analytical method development, clinical monitoring, IP and regulatory services. IntelGenx’s state-of-the-art manufacturing facility offers full service by providing lab-scale to pilot- and commercial-scale production. For more information, visit www.intelgenx.com.
Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “anticipate,” “initiate,” “could,” “would,” “project,” “plan,” “potentially,” “preliminary,” “likely,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things,
the uplisting of IntelGenx to the TSX and continued strategic cooperation between atai and IntelGenx. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond our control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including without limitation: we are a clinical-stage biopharmaceutical company and have incurred significant losses since our inception, and we anticipate that we will continue to incur significant losses for the foreseeable future; we will require substantial additional funding to achieve our business goals, and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our product development efforts; our limited operating history may make it difficult to evaluate the success of our business and to assess our future viability; we have never generated revenue and may never be profitable; our product candidates contain controlled substances, the use of which may generate public controversy; clinical and preclinical development is uncertain, and our preclinical programs may experience delays or may never advance to clinical trials; we currently rely on qualified therapists working at third-party clinical trial sites to administer certain of our product candidates in our clinical trials and we expect this to continue upon approval, if any, of our current or future product candidates; if third-party sites fail to recruit and retain a sufficient number of therapists or effectively manage their therapists, our business, financial condition and results of operations would be materially harmed; we cannot give any assurance that any of our product candidates will receive regulatory approval, which is necessary before they can be commercialized; research and development of drugs targeting the central nervous system, or CNS, is particularly difficult, and it can be difficult to predict and understand why a drug has a positive effect on some patients but not others; we face significant competition in an environment of rapid technological and scientific change; third parties may claim that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and may prevent or delay our development and commercialization efforts; a change in our effective place of management may increase our aggregate tax burden; we identified material weaknesses in connection with our internal control over financial reporting; and a pandemic, epidemic, or outbreak of an infectious disease, such as the COVID-19 pandemic, may materially and adversely affect our business, including our preclinical studies, clinical trials, third parties on whom we rely, our supply chain, our ability to raise capital, our ability to conduct regular business and our financial results. Other risk factors include the important factors described in the section titled “Risk Factors” in our final prospectus, filed with the Securities and Exchange Commission (“SEC”) on June 21, 2021 pursuant to Rule 424(b) under the Securities Act, and in our other filings with the SEC, that may cause our actual results, performance or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements.
Any forward-looking statements made herein speak only as of the date of this press release, and you should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, performance, or achievements reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations.
Contact Information
For atai Life Sciences:
Investor Contact:
Greg Weaver
ATAI – Chief Financial Officer
Email: greg.weaver@atai.life
Media Contact:
Anne Donohoe
KCSA Strategic Communications
Phone: +1 (212) 896-1265
Email: atai@KCSA.com
For IntelGenx:
Stephen Kilmer
Investor Relations
(514) 331-7440 ext 232
stephen@intelgenx.com
Or
Andre Godin, CPA, CA
President and CFO
IntelGenx Technologies Corp.
(514) 331-7440 ext 203
andre@intelgenx.com
COMPASS Pathways acquires IP portfolio of novel psychedelic compounds and prodrugs
COMPASS Pathways acquires IP portfolio of novel psychedelic compounds and prodrugs
COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced that it has acquired an intellectual property (IP) portfolio including patent applications covering a variety of psychedelic and empathogenic substances. The IP was developed together with inventor Matthias Grill PhD, founder and CEO of MiHKAL GmbH in Basel, Switzerland, who will be working with COMPASS on an exclusive research project to develop new product candidates.
The substances covered in the IP portfolio include a variety of psychedelic and empathogenic compounds, some of which are prodrugs – pharmacologically inactive compounds which are metabolised inside the body to produce an active drug. The new substances include novel derivatives of known compounds, increasing the confidence in therapeutic effects and safety profile while offering optimised characteristics.
Dr Matthias Grill has been involved in psychedelic chemistry research for over 15 years, gaining his PhD at the Max Planck Institute. He has held positions as Head of R&D at Arbolea GmbH, Lipomed AG and THC Pharm GmbH, and has synthesised psychedelic substances for a number of human research studies, including at the University of Basel and the National Institute of Mental Health in the Czech Republic.
Dr Grill said: “Chemistry still happens inside the flask and not on paper. Inspired by the work of chemists like Albert Hofmann and Alexander Shulgin, I am proud to be developing these evolved compounds in Switzerland, where many of the initial psychedelics were first researched and synthesised. We are creating novel candidates to address many of the mental health challenges we face today.”
Lars Wilde, Chief Business Officer, President and Co-founder, COMPASS Pathways, said: “We are delighted to be working with Matthias and MiHKAL GmbH. This agreement will strengthen and expand our IP and development portfolio with new compounds. We plan to move some of these compounds into clinical development within the next two years, taking us closer to our goal of helping patients with urgent unmet needs in mental health care.”
About COMPASS Pathways
COMPASS Pathways plc (Nasdaq: CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Our focus is on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. We are pioneering the development of a new model of psilocybin therapy, in which our proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and we are currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, US. Our vision is a world of mental wellbeing. www.compasspathways.com
Availability of other information about COMPASS Pathways
Investors and others should note that we communicate with our investors and the public using our website (www.compasspathways.com), our investor relations website (ir.compasspathways.com), and on social media (LinkedIn), including but not limited to investor presentations and investor fact sheets, US Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that we post on these channels and websites could be deemed to be material information. As a result, we encourage investors, the media, and others interested in us to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on our investor relations website and may include additional social media channels. The contents of our website or these channels, or any other website that may be accessed from our website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933.
Forward-looking statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. In some cases, forward-looking statements can be identified by terminology such as “may”, “might”, “will”, “could”, “would”, “should”, “expect”, “intend”, “plan”, “objective”, “anticipate”, “believe”, “contemplate”, “estimate”, “predict”, “potential”, “continue” and “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things, the efficacy of COMP360 psilocybin therapy as a treatment for depression, the expected timing for reporting data related to COMP360, COMPASS’s business strategy and goals, COMPASS’s ability to continue to advance its research, including COMP360, and COMPASS’s expectations regarding the benefits of its psilocybin therapy, including COMP360. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond COMPASS’s control and which could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements.
These risks, uncertainties, and other factors include, among others: preclinical research and clinical development is lengthy and uncertain, and therefore our preclinical studies and clinical trials may be delayed or terminated, or may never advance to or in the clinic; and those risks and uncertainties described under the heading “Risk Factors” in COMPASS’s annual report on Form 20-F filed with the US Securities and Exchange Commission (SEC) on 9 March 2021 and in subsequent filings made by COMPASS with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, COMPASS disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on COMPASS’s current expectations and speak only as of the date hereof.
Enquiries
Media: Tracy Cheung, tracy@compasspathways.com, +44 7966 309024
Investors: Stephen Schultz, stephen.schultz@compasspathways.com, +1 401-290-7324
Novamind to Present at Life Sciences Investor Forum
Novamind to Present at Life Sciences Investor Forum
TORONTO, ON / September 14, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce its participation in the Life Sciences Investor Forum, taking place virtually on Thursday, September 16 at 12:00 PM EST.
Join Novamind’s Chief Medical Officer and Director, Dr. Reid Robison, live as he presents the Company’s model for scaling access to psychedelic medicine through a multi-state, U.S. expansion of leading psychiatry clinics and clinical research sites. Investors are invited to participate in an open Q&A session following the presentation.
An archived webcast will be made available for attendees who are not able to join the event live.
Click here to join the webcast.
About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Samantha DeLenardo, VP, Communications
Email: media@novamind.ca
Bill Mitoulas, Investor Relations
Email: bill@novamind.ca
Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
Red Light Holland Engages Marketing Veteran and Brand Strategist, Ridley Doolittle, as Advisor to Advisory Board
Red Light Holland Engages Marketing Veteran and Brand Strategist, Ridley Doolittle, as Advisor to Advisory Board
Toronto, Ontario–(Newsfile Corp. – September 14, 2021) – Red Light Holland Corp. (CSE: TRIP) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles is pleased to announce that it has engaged Ridley Doolittle, to serve as an advisor (“Advisor“) to its Advisory Board. Mr. Doolittle brings over 15 years of high-quality strategic marketing and rate of sale commercial excellence in both the consumer packaged goods (“CPGs“), ready-to-drink (“RTD“) and start-up spaces. Mr. Doolittle most recently exited Bacardi as a Senior Brand innovation officer working across the North American landscape, to focus on consulting with companies who are looking to grow via marketing and innovative products offerings with the clear goal of resulting in global exposure and increased sales. Ridley Doolittle joins a strong team of advisors, including the Chairman of the Advisory Board Bruce Linton, to provide strategic advice and support to Chief Executive Officer Todd Shapiro, with respect to marketing and product innovation due to his background, expertise, vision and proven success of brand growth and product creation with both General Mills and Bacardi.
“Ridley is perfect for the role of immediately helping with Happy Caps home grow kits, while also assisting us in the Netherlands and across Europe with our iMicrodose products as well,” said CEO Todd Shapiro. “Ridley is someone I’ve personally worked with in the past when he was with Bacardi. Our working relationship was always very professional and respectful and his background and experience, especially with Bacardi and the ready-to-drink segment speaks for itself. I believe he’ll instantly be a tremendous asset to the Red Light Holland team as he immediately helps contribute to exploring future product offerings, marketing exposure and reach focused on increasing sales of our Red Light Holland consumer packaged goods. We’re pleased to have someone with his marketing know-how and work ethic,” said Todd Shapiro, CEO of Red Light Holland
“I am honoured to join this incredible team,” added Ridley Doolittle. “When I look across the wider North American consumer landscape today, it’s clear to me that the next generation of consumers are behaving completely different than any generation prior to them – in terms of their social activities, enjoyment choices and their stance on health and wellness.”
Mr. Doolittle goes on to say, “The opportunity to pull from my experience as a consumer- focused brand leader in the CPG and Premium Alcoholic Beverage category, and transfer this into the psychedelic and functional mushroom growth sectors with this incredible team, is hugely exciting.”
In consideration for his services as Advisor, and subject to all applicable laws (including the rules and policies of the Canadian Securities Exchange) (“Applicable Laws“) and the approval of the board of directors of the Company (the “Board“), the Company intends to grant to Mr. Doolittle up to 200,000 incentive stock options (the “Options” and each individually, the “Option“). 100,000 Options will vest upon certain milestones being achieved with respect to sale of Happy Caps home grow kits. Each Option will entitle the holder thereof to acquire one common share in the capital of Company for a period of three years from the date of issuance, at an exercise price of $0.25. The Options shall be subject to Applicable Laws and the terms and conditions of the Stock Option Plan of the Company, and will be subject to a hold period of four months plus one day from the date of issuance.
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on the Company:
Todd Shapiro
Chief Executive Officer, Chairman, and Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/
Forward-Looking Statements
Neither the Canadian Securities Exchange (the “CSE“) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable securities laws, which may include, but is not limited to, statements with respect to the future benefits and or outcomes related to the Company’s engagement of Mr. Doolittle. Although the Company believes in light of the experience of its directors and officers, current conditions and expected future developments and other factors that have been considered appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the Company’s engagement of the Advisory may not be as beneficial in the ways set out in this Press Release. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.
Optimi Health Updates Build-out of Mushroom Production and Research Facility
Optimi Health Updates Build-out of Mushroom Production and Research Facility
VANCOUVER, BC (GLOBE NEWSWIRE – September 14, 2021) — Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to offer an activity update at its 20,000 sq. ft. production and research facility in Princeton, British Columbia.
Optimi continues to advance towards final build-out of its two adjacent 10,000 square foot facilities which originally began construction in August of 2020. Current estimates place the project as between three to four weeks behind schedule. When measured against the backdrop of the ongoing global health crisis, a delay of this nature is considered acceptable and Optimi thanks all concerned for their ongoing and relentless efforts to manage supply chain and related issues efficiently and effectively to expedite overall progress.
Of particular importance, notification was recently received regarding Optimi’s application for a Controlled Substance Dealers License which specifically referenced the facility details for both proposed Security Level 8 and grow room installations. The review indicated the proposed security environs may meet the requirements of the Health Canada Directive on Physical Security Requirements for Controlled Substances and Drugs Containing Cannabis (the “Directive”) if built as proposed. The notification officially advised Optimi it may begin construction of these secure elements of the facility and further requested notification upon completion in order to arrange for an inspection.
Regarding ongoing activities, building 261’s facility-specific structural, electrical, ventilation and irrigation systems have either been roughed in or completed to key demarcation points. Secondary site electrical is nearing completion and external paving, road access and security fencing are scheduled with some materials already pre-staged. Remaining procurement tasks include a millwork ITT and direct purchase of specialty items such as washroom accessories, escape ladders, signage, lockers, washroom partitions and fire extinguishers (see figures 1-5).
Next door at Building 269, framing is complete except for a few small areas relevant to the grinding and extractions rooms. Electrical rough-in is largely complete and the mechanical infrastructure install continues daily. Most of the balance of required equipment for both buildings will be on-site over the next month including all the electrical distribution equipment and ancillary mechanical. Optimi has been advised that most of the specialized security fencing materials have now arrived and installation should complete in a few weeks. The contractor has completely installed the majority of the security fence and security components for the exterior of the site. The security integrator will be on site throughout September to ensure the system is complete and operating in accordance with the design in preparation of our Health Canada inspection.
The grid electrical provider has informed the team that secondary electrical infrastructure must be in place prior to delivery of the primary transformer to energize the site and have been informed that the requisite equipment will be largely in place by September 15. Delivery dates for tertiary transformers and distribution have been confirmed for September. Optimi’s team is currently meeting with the City of Princeton regarding roadcuts and connection of water and sanitary services.
In accordance with Health Canada protocols, now that Optimi has been advised to proceed with Security Level 8 construction, secure vault ceiling decking will be installed immediately in preparation for a planned concrete pour. Once completed, the facility will include a Region III, Level 8 product vault with a projected capacity to initially secure a licensed 50kg of Psilocybin with the ability, subject to future licensing, to easily scale up to a maximum allowable level 8 capacity of 1,250kg.
Optimi Health COO and Director, Bryan Safarik notes, “The pace of activity has been phenomenal with updates occurring daily. We are delighted how well everything is coming together, and the quality of work continues to be excellent. I look forward to delivering this project within a timeline and budget that’s not far from our original pre-Covid expectations, and under the extraordinary circumstances are very pleased with how diligently the entire team is working to get Canada’s first all-natural end-to-end mushroom facility ready for production. It’s shaping up to be a fabulous world-class facility we can all be justifiably proud of.”
On Behalf of the Board of Directors,
Bill Ciprick
Chief Executive Officer
Optimi Health Corp.
ABOUT OPTIMI (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN)
Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia. To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also applied for a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production. Find out more at: https://optimihealth.ca/.
FOR FURTHER INFORMATION CONTACT:
Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (778) 930-1321
Web: https://optimihealth.ca/
FORWARD‐LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, “forward‐looking statements”) that relate to Optimi’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to,” “expects,” “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective,” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐ looking statements pertaining to the Company’s potential Nasdaq listing, the dealer’s license application, activities proposed to be conducted under the Company’s research exemption and associated business related to Psilocybin and Psilocin and Optimi’s plans, focus and objectives.
Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID‐19 pandemic and other factors set forth under “Forward‐Looking Statements” and “Risk Factors” in the Company’s Final Prospectus dated February 12, 2021. Optimi undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Nova Mentis Applies to US FDA for Psilocybin Orphan Drug Designation Fragile X Syndrome Treatment
Nova Mentis Applies to US FDA for Psilocybin Orphan Drug Designation Fragile X Syndrome Treatment
Vancouver, British Columbia – September 14, 2021 – Nova Mentis Life Science Corp. (CSE: NOVA) (FSE: HN3Q) (OTCQB: NMLSF) (“NOVA” or the “Company”), a biotechnology company and global leader in first-in-class psilocybin-based therapeutics and complementary diagnostics for neuroinflammatory disorders, is pleased to announce it has filed an application with the U.S. Food and Drug Administration (FDA) to receive orphan drug designation for its proprietary psilocybin drug to treat patients with fragile X syndrome (FXS), the most common inherited cause of autism spectrum disorder (ASD).
The U.S. Orphan Drug Act (ODA) grants special status to a drug for the treatment, diagnosis or prevention of a rare disease or condition. In the United States, a rare disease is defined as a condition that affects fewer than 200,000 people. Developmental delays affect ~13% of all American children ages 3-10 and FXS is the most common inherited cause of intellectual disability. The Centers for Disease Control and Prevention estimates FXS prevalence as 1 in 4,000 for males and 1 in 8,000 for females.
“NOVA is committed to accelerating the research and development of psilocybin-based therapeutics to help treat fragile X syndrome,” says Will Rascan, NOVA’s CEO & President. “With FDA orphan drug designation, our Company would qualify for benefits and incentives such as seven years of market exclusivity after drug approval, tax credits for clinical testing, eligibility for orphan drug grants and the waiver of the FDA New Drug Application filing fee of approximately $2.4 million.” He adds the Company filed for orphan drug designation with the European Medicines Agency (EMA) on August 12, 2021.
“New clinical treatments for FXS are needed and we believe serotonergic agonists like psilocybin represent a promising option,” stated Dr. Marvin S. Hausman MD, Chairman of NOVA’s Scientific Advisory Board. “Psilocybin and other tryptamine derivatives are expected to modulate the molecular and behavioural underpinnings of the disorder, improve brain plasticity, improve cognition, reduce anxiety and behavioural rigidity. NOVA has successfully completed three preclinical studies confirming therapeutic efficacy, without apparent side effects, of Nova’s proprietary psilocybin drug. Moreover, an important catalyst driving the fragile X clinical program is the ability of our drug to modulate levels of neuroinflammatory molecules (cytokines) measured pre- and post-treatment.”
About Nova Mentis Life Science Corp.
Nova Mentis Life Science Corp. is a Canadian-based biotechnology company and global leader in developing diagnostics and psilocybin-based therapeutics for neuroinflammatory disorders. The goal is to diagnose and treat debilitating chronic conditions that have unmet medical needs, such as autism spectrum disorder (ASD) and Fragile X Syndrome (FXS).
For further information on the Company, please visit https://www.novamentis.ca or email info@novamentis.ca.
On Behalf of the Board
Will Rascan, President & CEO
Nova Mentis Life Science Corp.
Phone: 778-819-0244
Toll Free: 1-833-542-5323
Twitter: @novamentislsc
Instagram: @novamentislsc
Facebook: @novamentislsc
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Nova Mentis Life Science’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
AIkido Pharma Releases Shareholder Update; Near Term Catalysts Approaching
AIkido Pharma Releases Shareholder Update; Near Term Catalysts Approaching
- Patent Allowed on Company Technology by US Patent Office
- Company Asset, DatChat IPO’s on Nasdaq, Valued at $3.4 Million
PR Newswire
NEW YORK , Sept. 14, 2021 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today released the following shareholder update:
Dear Shareholder,
September is an opportune time to provide a shareholder and investor update and we are pleased to report on positive developments and near-term upcoming potential value creating catalysts.
To start, we are pleased to announce that last month, DatChat Inc., (Nasdaq: DATS) went public. AIkido owns 525,000 shares of DatChat, which it previously purchased for $500,000.00 . As of September 13 th , DatChat shares closed at $6.54 , well higher than its IPO price and representing a more than 600% return or an additional $3,433,500.00 added to AIkido’s balance sheet. We believe that DatChat is a terrific product and we wish DatChat continued success and growth. This validating valuation and liquidity event is exciting as it is a further demonstration of our growth model leading to shareholder value. We are excited about our current assets and look forward to additional upcoming milestones and potential catalysts that are on the near-term horizon.
Moving forward, the Company’s strategy will continue its primary focus on acquiring biotechnology assets which it will operate, develop, and move towards monetization. This is our primary business focus and the bulk of our energies are spent pursuing this objective. Additionally, the Company is also continuing to opportunistically review smaller acquisitions that are in later stage companies like DatChat and Convergent, that we hope will reach further monetization points in the next 6 to 18 months. These smaller assets have a fixed cost and help diversify risk while still providing for value enhancing growth opportunities. Importantly, we are hopeful to have other opportunities to increase shareholder value by the end of the year.
In addition to DatChat, other Company assets are advancing in their respective timelines. Convergent Therapeutics, a clinical stage pharmaceutical company focused on developing next generation radiopharmaceutical therapies for prostate and other cancers, continues to progress and we are looking forward to additional milestones this year. We are enthused with their recent announcement that Philip Kantoff , M.D., a world-renowned medical oncologist, former Chairman of the Department of Medicine at Memorial Sloan Kettering Cancer Center (MSK) and Co-Founder of Convergent, was appointed as Convergent’s Chief Executive Officer. Dr. Kantoff stated, “My decision to lead Convergent was driven by the opportunity to accelerate the development of precision radiopharmaceuticals, including CONV 01-α, with the goal of producing highly transformative treatments for patients with prostate and other cancers.” We believe this is a high growth opportunity where we have seen numerous monetization events in the sector at high valuations and multiples and look forward to further clinical progress this year.
Convergent also announced the appointment of Alexander Brown to the position of Chief Operating Officer. Prior to joining Convergent, Mr. Brown was the Head of New Product Planning, Global Oncology, at Sanofi responsible for the commercial readiness of the company’s early-stage oncology pipeline. Before that, he served in several positions of increasing responsibility at EMD Serono (a Merck KGaA subsidiary). Both Dr. Kantoff and Mr. Brown are clearly first in class professionals and the Company could not be happier about their addition to Convergent. We believe Convergent will be a very successful company and produce a great drug that will help many people.
Moreover, the Company has been notified that its pancreatic cancer asset, licensed from University of Texas , has received a Notice of Allowance from the United States Patent and Trademark Office. This represents another notable step forward in the development of this cancer asset. Our robust patent portfolio positions us well and we believe represents a solid asset for the Company.
I continue to be a strong believer in the Company and its growth prospects. I have personally purchased stock in the open market this past year and plan to continue that when appropriate. We have numerous near-term initiatives in the works that we are extremely excited about that aim to capitalize on high growth opportunities in sectors that we believe will be received well by the investment community. Our focus is on making smart value enhancing acquisitions and have a strong balance sheet to continue this strategy for a long time to come. With over $100 million in in the bank, in addition to other assets such as DatChat, Hoth Therapeutics and Convergent, we have a market cap significantly below that combined amount, making this an opportunistic time in our lifecycle. Our burn rate is extremely low and do not plan on any further equity dilution for the foreseeable future. Lastly, we will continue to focus on enhancing shareholder value through our operational and acquisition strategies.
In the meantime, I would like to thank each of the shareholders for their continued support and look forward to our near-term catalysts and longer-term overall growth prospects.
Sincerely,
Anthony Hayes
Chief Executive Officer
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company’s platform consists of patented technology from leading universities and researchers, and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and University of Maryland at Baltimore. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer and prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Investor Relations:
Hayden IR
Brett Maas , Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
AIkido Pharma Inc.:
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com
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SOURCE AIkido Pharma Inc.